Seychelles Fact Sheet
General
| Type of company | IBC |
| Political Stability | Good |
| Common or Civil Law | Hybrid |
| Disclosure of Beneficial Ownership to Government Authorities | No |
| Migration of Domicile Permitted | Yes |
| Tax on Offshore Profits | Nil |
| Language of Name | Any with French or English translation |
Corporate Requirements
| Min. No. of Shareholders | 1 |
| Min No of Directors | 1 |
| Min. Share Capital | US$ 1.00 |
| Corporate Directors | Allowed |
| Company Secretary Required | Optional |
| Usual Share Capital | US$ 100,000.00 |
| Bearer Shares | Not Allowed |
| Production of Accounts | Discretion of Directors |
| Audit of Accounts | Discretion of Directors |
Local Requirements
| Registered Office | Yes |
| Registered Agent | Yes |
| Company Secretary | No |
| Local Directors | No |
| Local Shareholders | No |
| Local Meetings | No |
| Government Register of Directors | Yes (no public access) |
| Government Register of Shareholders | Not Public S.152(1) (5) IBC Act as amended (2018) |
| Government Register of Beneficial Owner | Yes (no public access) |
Annual Requirements
| Minimum Annual Tax/Licence Fee | US$ 140.00 (including VAT) |
Restrictions on Trading
| 1 | Cannot undertake the business of banking, insurance, reinsurance or trust unless the company has obtain a licence from FSA. |
Attractive Features
- Below is a summary of some of the more attractive features of the IBC Act:
- No requirement to file annual returns or financial statements.
- No requirement to hold annual general meetings of shareholders.
- Full exemption from taxation on any business activity or transaction carried on outside the Republic of Seychelles.
- Speedy incorporation procedures and simple ongoing administration.
- Reasonable formation and maintenance costs and fees.
- No minimum or maximum capital requirements.
- Minimum registration fee on capital.
- IBCs may engage in any lawful business in any country and may carry on transactions in whatever currencies they choose.
- Only registered shares may be issued.
- IBCs need not to have more then one director.
- The shareholders, directors, officers may be of any nationality and may be residents of any country.
- Neither the directors nor the officers need be a shareholder.
- Directors and/or officers can be either corporate entities or natural persons.
- There is no requirement to register initial or ongoing changes in directors and/or officers.
- Shareholders and /or directors may hold their meetings in any country and they may attend such meetings by proxy.
- Familiarity of incorporation documents (Memorandum & Articles of Association, Certificate of Incorporation).
- Apostille available should documents need to be legalised.
Incorporation documents may be drafted in any language together with a translation into English or French. - The name of the company may be expressed in any language together with a translation into English or French.
- IBCs may own vessels under the Merchant Shipping Act,1992